Clean Diesel

Volkswagen Diesels Showing Higher Depreciation

October 13, 2015
• by Staff

Photo courtesy of VW.

Volkswagen's diesel models have lost their value in the auction lanes at a much sharper rate than comparable gasoline models since revelations came to light that the company had included a software cheat in the vehicles to beat emissions tests, according to Black Book.

Volkswagen's Golf TDI, Jetta TDI, Beetle TDI, and Passat TDI have in most cases recorded a depreciation rate more than double of the comparable gasoline models since Sept. 18. The Golf TDI fared the best with a 5% depreciation rate compared to the gasoline Golf's 3.5% depreciation.

The Passat TDI, which is the top fleet seller, has depreciated 7.9% compared to the 2.3% depreciation of the gasoline Passat.

"It is still very early in the process for Volkswagen, as well as the outcome this may have on overall vehicle depreciation patterns, but we will remain focused on observing these vehicles in the coming weeks at auctions around the country," said Anil Goyal, Black Book's vice president of automotive valuation and analytics.

Legislation

Clean Diesel

Volkswagen has gained approval from air regulators of the final modification plan for the remaining vehicles that contain software designed to defeat emissions tests, the California Air Resources Board has announced.

Volkswagen has appointed Matthias Muller, the chairman of Porsche AG, as its new chief executive to replace the departed Martin Winterkorn, and will restructure its North American operations in the wake of a scandal over diesel emissions.

Volkswagen's chief executive said the company is "deeply sorry" and plans to fully cooperate with the U.S. Environmental Protection Agency in its investigation of the automaker's use of software to get around federal emissions regulations.

The European Commission will require “real world” vehicle emission tests beginning in 2017. Emissions approval for passenger cars in Europe will then include mandatory on-the-road tests using a portable emissions measurement system.